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INS. CO. OF NORTH AM. v. MFRS. HANOVER TRUST CO.

106 A.D.2d 285 (1984)

Insurance Company of North America, Respondent, v. Manufacturers Hanover Trust Company, Defendant and Third-Party Plaintiff, and Dollar Dry Dock Savings Bank, Appellant and Third-Party Defendant-Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

December 13, 1984

Plaintiff, as subrogee of ACLI International Commodities Services, Inc., brought this action to recover for the conversion of three United States Treasury notes in the total face amount of $30,000. The notes, received by ACLI on July 29, 1982, each with a maturity date of August 15, 1982, were discovered to be missing from ACLI's safe on August 3, 1982. One day earlier, the notes had been presented to appellant for collection by one of its customers and were then transmitted...

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